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Rising Star
Will COVD19 affect jobs in IB as markets turn?
Anomaly LA anyone know who to reach out to?
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Rising Star
Finally found THE one, after over a year of searching and trying out at least 5 different ones!
A nice comfortable office chair.
https://ergochair.co/collections/chairs/products/ergonomics-mesh-chair-w-adjustable-headrest-and-armrest?variant=32511617597491
My criteria: mesh seat and back, arms, headrest
I tried cheap ones from Amazon. Expensive, second hand gaming chairs. Tried HM Aeron (second hand) and while I didn't like the bulk and the general design, I was sold on the mesh seating. I wanted to get the ErgoChair 2 from autonomous, but it doesn't have mesh seat.
AMA.
Best consulting firms without the massive ego?
Love these posts
How do you know it’s time to leave a job?
What city are you travelling to this week?
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I’m not sticking around a bad situation for an extra 5%.
Then let’s continue on the 0% we have been given for the last 4 years lol
Except consulting as an industry has a retention problem not an attrition problem right now. Too many people are staying put given the job market. No need to incentivize more.
Also I doubt 100k people cost $7b to replace. That’s $70k per. It’s probably closer to $30k.
Rising Star
Don’t we cut like the bottom 10% each year?
Rising Star
It cost Accenture about $50k-90k per person to recruit and train? If it does, Accenture needs to look at your own recruiting and onboarding team.
Giving 5% raise to retain? What’s happen the next year? People take that 5% for granted and if it doesn’t add another 5%, people will still leave. You can’t retain someone forever and they are going to leave.
Save $1.8b? That’s assuming you’re retaining ~20% 36%. So you are paying 750k people more money in the hope to retain 20-36k people. Doesn’t make sense.
Maybe you shouldn’t try to run a business and stick to being an analyst.
$90k! GD! Where did my training allotment go bc I haven’t seen it!
Most of that workforce is in India earning nowhere near that amount
I think the $50k - 90k are the sign on bonuses
Unless you move it all to a BOT or India then it doesn’t matter
What you’re proposing isn’t retention, it’s cost inflation. Handing out 5% RSUs every year just raises the baseline. Attrition still happens, and now payroll is permanently higher.
Active investors would crush Accenture for that, because it tanks margins and EPS. RSUs don’t solve culture or promotion bottlenecks. They make the company more expensive to run.
Honestly, with the cost of living 5% is a rounding error in my comp. Especially after-tax you're talking like an extra $30 a check
You’re not addressing the elephant in the room (from a leadership standpoint). What % would stay on for 5%? Instead, they’re replacing probably with lower cost headcount. Sometimes, voluntary attrition is better than giving a raise (not my viewpoint as an employee).
Good news though… if OP was CEO, they would be retired after year one, hopefully with a golden parachute.
Bad news… activist investors would take over the firm and here are the results…
Your bonus? Slashed. Bench time? Gone. Training that doesn’t drive billables? Cut. Those innovation days and “investment in our people” programs vanish faster than earnings can drop.
Town halls will still promise that “talent is our greatest asset.” But behind closed doors, spreadsheets mark heads for reduction. To activist investors, people aren’t assets, they’re expenses with names.
What survives activist math: billable hours, client revenue, profit margins. Everything else is “operational fat.” Career development, mentorship, extra PTO all disappear. Buckle up!
It's all about the stock price. RIFs show reduction in cost incresing profitability.